Winklevoss Exchange Gemini Struggling to Win Bitcoin Traders

[countryfree]

The gemini exchanges doesn't have a stable marketing strategy at the moment.

I think they do. Their plan right now is to appeal to the guys who would never have bought BTC via localbitcoins or through a small exchange whose reputation isn't well established. The bros make BTC available to all investors, even those who don't like to get their feet wet. They're doing some good!

[jaysabi]

The gemini exchanges doesn't have a stable marketing strategy at the moment.

I think they do. Their plan right now is to appeal to the guys who would never have bought BTC via localbitcoins or through a small exchange whose reputation isn't well established. The bros make BTC available to all investors, even those who don't like to get their feet wet. They're doing some good!

But how is this any different from any other bitcoin exchange? Are they doing anything innovative, or just stealing market share by capitalizing on their names?

[neurotypical]

Still, Samman acknowledged Gemini's liquidity problem is one that faces the entire industry, due to weakening demand for bitcoin as an asset and what he called a "distrust" in existing exchange options. Further, he suggested that Gemini's by-the-book approach to launching in New York may have turned off avid traders, including those with libertarian or anti-government leanings.

Because unregulated exchanges were working so well? How many disappeared with bitcoins? Regulation is not always the enemy, and in this case it's inevitable and carries the benefits of legitimizing and stabilizing the currency to a very large and reluctant population of non-adopters. Net good > bad.

Sure, regulation brings good things in some cases, but let's not kid ourselves here, the people that is using now Bitcoin are usually libertarians, anarcho capitalists, or hackers/geeks, the normal folk are still unaware of Bitcoin, so this means, most of the people that is inside Bitcoin are ok with unregulated exchanges. Once Bitcoin goes mainstream then Gemini will see a lot of new users over there.

[gentlemand]

Sure, regulation brings good things in some cases, but let's not kid ourselves here, the people that is using now Bitcoin are usually libertarians, anarcho capitalists, or hackers/geeks, the normal folk are still unaware of Bitcoin, so this means, most of the people that is inside Bitcoin are ok with unregulated exchanges.

I for one am not OK with an unaccountable exchange. As we've seen time and time and time again the 'free market' is there to rape the unwary. In most cases it's a licence for incompetence or theft. When you chuck in large amounts of irreversible money it's a borderline no brainer that you'll get fucked.

[ANdr0id]

My little time in the bitcoin community (less than 5 months) has shown me that bitcoiner's are an apprehensive bunch. Thy will shy away from something new and step back to watch what happens. Only the very new people to bitcoin will go into the Gemini exchange full tilt.

[jaysabi]

Still, Samman acknowledged Gemini's liquidity problem is one that faces the entire industry, due to weakening demand for bitcoin as an asset and what he called a "distrust" in existing exchange options. Further, he suggested that Gemini's by-the-book approach to launching in New York may have turned off avid traders, including those with libertarian or anti-government leanings.

Because unregulated exchanges were working so well? How many disappeared with bitcoins? Regulation is not always the enemy, and in this case it's inevitable and carries the benefits of legitimizing and stabilizing the currency to a very large and reluctant population of non-adopters. Net good > bad.

Sure, regulation brings good things in some cases, but let's not kid ourselves here, the people that is using now Bitcoin are usually libertarians, anarcho capitalists, or hackers/geeks, the normal folk are still unaware of Bitcoin, so this means, most of the people that is inside Bitcoin are ok with unregulated exchanges. Once Bitcoin goes mainstream then Gemini will see a lot of new users over there.

You should ask the people who lost money in Mt. Gox what they think of unregulated exchanges. Perhaps all that outrage was just a misunderstanding by all the libertarians and anarcho capitalists.     I'm even a libertarian and I would never trust an unregulated exchange.

[chennan]

Gemini, the long-awaited New York-based bitcoin exchange founded by Cameron and Tyler Winklevoss and billed as the "Nasdaq of bitcoin", finally debuted on 8th October.

Featured in articles by The Financial Times, TechCrunch and Wired, and promoted via a TV appearance on Fox News, Gemini it succeeded in grabbing the attention of the mainstream media like few industry products before it.

While a success in terms of promotion, however, Gemini is showing signs it is struggling to appeal to bitcoin's active trading community. Though representatives of the exchange stated they're seeking to attract a more institutional clientele than their competitors, avid bitcoin traders tell CoinDesk that they believe this strategy will be difficult to execute.


here is the full article : http://www.coindesk.com/winklevoss-bitcoin-exchange-gemini-win-traders/

Anyone knows how much is the trading volume on their website comparing to the other exchanges ? it's kinda crappy because they don't make their price or their stats on the first page and we can't make an account unless we are from USA .

https://tradeblock.com/markets/gmni/xbt-usd/1h/

Wow, it doesn't really help either that the exchange rate per bitcoin on gemini is about $3 higher... I mean sure, they provide a "legit" exchange site for the more "industrial" cliental, but I'm sure that could be a very good reason as to why most people here in the U.S. still use other exchanges rather than them.

[NorrisK]

Gemini, the long-awaited New York-based bitcoin exchange founded by Cameron and Tyler Winklevoss and billed as the "Nasdaq of bitcoin", finally debuted on 8th October.

Featured in articles by The Financial Times, TechCrunch and Wired, and promoted via a TV appearance on Fox News, Gemini it succeeded in grabbing the attention of the mainstream media like few industry products before it.

While a success in terms of promotion, however, Gemini is showing signs it is struggling to appeal to bitcoin's active trading community. Though representatives of the exchange stated they're seeking to attract a more institutional clientele than their competitors, avid bitcoin traders tell CoinDesk that they believe this strategy will be difficult to execute.


here is the full article : http://www.coindesk.com/winklevoss-bitcoin-exchange-gemini-win-traders/

Anyone knows how much is the trading volume on their website comparing to the other exchanges ? it's kinda crappy because they don't make their price or their stats on the first page and we can't make an account unless we are from USA .

https://tradeblock.com/markets/gmni/xbt-usd/1h/

Wow, it doesn't really help either that the exchange rate per bitcoin on gemini is about $3 higher... I mean sure, they provide a "legit" exchange site for the more "industrial" cliental, but I'm sure that could be a very good reason as to why most people here in the U.S. still use other exchanges rather than them.

Looks like their trading volume remains stable around 400 btc. Have to be honest and say that I expected more volume from them by now.

Possibly their limitation to US customers is kicking their asses at the moment. There is a lot of volume to gain from Europe and China.

[Swordsoffreedom]

It will depend on how they target their network to acquire new user growth
Incentives and finding different potential groups would do them a fair bit as it is now their volumes do appear to be stable around 420 BTC

[countryfree]

I know there was a plan to extend Gemini to Europe. After MtGox's failure, I guess most people will prefer to buy BTC from a company close to their home. If Gemini wants European customers, it will need to open an office locally, it will be easier now that the EJC has ruled that exchange services are exempted from VAT.

https://bitcointalk.org/index.php?topic=1217573

[chennan]

It will depend on how they target their network to acquire new user growth
Incentives and finding different potential groups would do them a fair bit as it is now their volumes do appear to be stable around 420 BTC

Well, I mean not only that, but you would have to look at the fact that they don't necessarily cater to the "small" bitcoin purchaser... They seem to be more delved in the field of dealing with "big" bitcoin companies, but the reality of it is that there just aren't that much anymore or right now, that are located in the US.  I think they would need to cater to the small man first before they go and try to sell bitcoins to the Bill Gates's and the Donald Trump's of the world.